Transamerica Ventures, the strategic investment arm of insurance provider Aegon, has co-led a $12m funding round for UK-based reinsurance data platform developer Quantemplate with investment firm Route Sixty-Six Ventures.
The round included Allianz X, insurance group Allianz’s digital investment vehicle, as well as insurance manager Insight Catastrophe Group and fintech-focused venture capital firm Anthemis Group.
Quantemplate develops automated data software for use in the insurance sector, enabling customers to take in, prepare and manage data so it can be used to discover insights in real time. It will put the cash toward platform development, sales and marketing.
The round took the company’s overall funding to more than $25m and it follows $3.3m from Allianz, TransAmerica Ventures, Route Sixty-Six Ventures, Anthemis and Columbia Lake Partners in late 2017.
Route Sixty-Six Ventures had led an $8m round for Quantemplate in 2015, investing alongside Transamerica Ventures and Allianz X forerunner Allianz Digital Corporate Ventures. The company had previously raised $2m in a Techstars and Burlington Capital-backed round before Anthemis added an undisclosed amount in 2014.
